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Exactly, each Nortel share is worth more of the company than each SIRI share is worth of Sirius/XM because there is a larger share float of SIRI than of NT - there are less NORTEL shares out there trading than SIRI shares are out there trading....Quote:
Originally Posted by trippingthespeculatingpos
Does that help?
New Hartleib PR......
http://news.prnewswire.com/DisplayRe...4954781&EDATE=
Sirius Shareholders Issue Demand for Review of Books and Records Under Delaware Law Statute 220
yes sir, tyQuote:
Originally Posted by Demian
http://www.fmqb.com/Article.asp?id=1105635
In Brief - January 14, 2009
Jim Ryan, PD at Sirius XM’s The Pulse channel, will also take on programming of the satcaster’s AC channel, The Blend.
http://www.rbr.com/features/ideas-wo...now/12252.html
Radio Roundtable 2009
What do you foresee as the future of Sirius XM?
Steal: Unfortunately for them, I think their business model, as it exists today, is unworkable. With the debt they have incurred it sure looks like their window has passed…
McVay: It won’t go away. The doomsday storyline is wrong. It’s here. It provides a needed service. It is simplistically PAY RADIO. There’s nothing wrong with that.
Fisher: I do not see a future for Satellite. Niche service with stressed business model. Newer technologies should impact Satellite the most.
Fig: It’s a Niche player at the current monthly price point.
Benrubi: Continued growth in audience, unique and exclusive programming, the biggest names in the business, Stern, Oprah, Martha Stewart, Elvis, Sinatra, Springsteen, and Dylan etc.
http://latimesblogs.latimes.com/wash...xm-sirius.html
Get ready, radio people! All-Obama, all-satellite radio, all the time
In case you're one of the 200 or 300 Americans who do not plan to assemble on the Mall in Washington next Wednesday morning and be unable to see the inauguration of Democratic President-elect Barack Obama and his voluble sidekick Joe Biden (who was a senator when Obama was only 11 years old, you know), the country's media is planning extraordinary coverage.
That includes The Ticket, of course, which will have coverage from Times reporters all over the place with live streaming and all that good stuff. More on that later. Bookmark this now before you forget.
You might not believe this. But just as one extraordinary example, the newly combined satellite radio service, XM Sirius with its 18 or so million listeners, intends to devote 17 (yes, 17) channels entirely to Obama inauguration coverage. (No, you won't lose the Elvis channel, but no Sarah Palin channel this time.)
You read that right. 17. Sure, the channels are online too. But you'll probably want to purchase several new cars anyway just to have enough satellite radios to listen to all the channels.
The headliner, of course, is POTUS 130, the addictive all-politics channel with top political pros Joe Mathieu and Tim Farley doing nonstop inaugural ceremony coverage.
They're also gonna have simulcast channels of Fox News, CNN, CNN en Espanol, plus channels devoted to liberal (of course), conservative (really!), African American (naturally), independent and LGBT coverage (Pastor Rick Warren fans will want to tune in there for sure).
There'll be an inauguration weather channel, plus a D.C. traffic channel and, who could forget, the Oprah & Friends channel. See if she cries her eyelashes off like in Denver. Well, wait. It's radio. So you'll have to listen for falling eyelashes.
It's all too complicated to include here. So click on the "Read more" line to see all the inaugural satellite radio details.
-- Andrew Malcolm
Down 9%. If someone could like, buy a bunch of stock, that would help.
welcome to the forum dude! i think we gotta wait till after inaug for another bounce upQuote:
Originally Posted by thedude110
1 cent from my stop today on LVLT. Tomorrow may be a better day, then again after a good hosing like today I will set stops on everything that I can. ;)Quote:
Originally Posted by trippingthespeculatingpos
Isn't it amazing that a little news like retail and banking can set the world in a spin? I say, ignore it and buy!
SIRI is self-explanatory.....I believe you may be right about till after the inaug when we should have a classic rally. I hope everybody doesn't forget this time.
Anyway, have a great evening.
SIRI closed @ ****ing .12.......
SIRI files new 8-K.......
Stock exchanged for 13 million in debt....
http://secfilings.nasdaq.com/filingF...14%2F2009&pdf=
Item 3.02 Unregistered Sales of Equity Securities.
We have agreed to issue an aggregate of 100,000,000 shares of our common stock, par value $0.001 per share, in exchange for $13,000,000 principal amount of our 2½% Convertible Notes due 2009 (the “2½% Notes”) beneficially owned by institutional holders. After giving effect to these exchanges, $174,588,000 aggregate principal amount of the 2½% Notes remain outstanding.
We will not receive any cash proceeds as a result of the exchange of our common stock for the 2½% Notes, which notes will be retired and cancelled. We executed these transactions to reduce our debt and interest cost, increase our equity, and improve our balance sheet. We may engage in additional exchanges in respect of our outstanding indebtedness if and as favorable opportunities arise.
The issuance of the shares of our common stock will be made pursuant to the exemption from the registration requirements of the Securities Act of 1933, as amended, contained in Section 3(a)(9) of such Act.
Apple (AAPL) is halted.....Steve Jobs taking medical leave. Stock will resume trading at 5pm eastern time.
=DJ Apple CEO Jobs To Take Medical Leave Until June; COO To Lead
DOW JONES NEWSWIRES
Ê Apple Inc. (AAPL) Chief Executive Steve Jobs will take a medical leave of absence until the end of June, saying curiosity about his health was too distracting for the company, as he named Chief Operating Officer Tim Cook to lead Apple's day-to-day operations. Ê "As CEO, I plan to remain involved in major strategic decisions while I am out," he wrote in an email to Apple employees. Ê Apple shares were recently down 7.9% at $78.55 in late trading. Ê Jobs also said his health-related issues "are more complex than I originally thought." Jobs didn't give any more details about his condition in a company statement, but CNBC cited technology industry executives who have expressed dire concerns about Jobs' health. Ê Last week, looking to quell speculation, he said he was suffering from a hormonal imbalance. A survivor of a rare form of pancreatic cancer, Jobs' apparent weight loss shocked the investment community last summer, and rumors about his health have helped make the company's stock volatile for months. Speculation kicked into high gear last month with his unexpected decision to pull out of the high-profile MacWorld trade show. Ê Jobs is viewed as a mastermind of American business since his triumphant return to Apple in 1997. Since then, the company turned from a niche player in personal computers to a maker of gotta-have tech gadgets like the iPhone and iPod. Apple now is the No. 3 PC maker in the U.S. with a nearly 18% share. Ê Apple has said it has a succession plan, and some at the MacWorld expo said they believed Jobs' eventual successor has to come from inside the company.
Ê -By Kathy Shwiff, Dow Jones Newswires; 201-938-5975; kathy.shwiff@dowjones.com
Ê (END) Dow Jones NewswiresÊ January 14, 2009 17:04 ET
Sirius XM Radio Inc.
Jan. 14, 2009 Market Close: $ 0.12
After Hours Trade Reporting
After Hours
Last: $ .122
After Hours
High: $ .1267
After Hours
Volume: 733,774
After Hours
Low: $ .1203
Thanks. I tossed $500 at SIRI as a spec at .13.Quote:
Originally Posted by trippingthespeculatingpos
Have to see how the market responds to the news from late this afternoon. Last I saw we were up 1.5% after hours ...
Seems I maybe correct that the bottom will be tested again in next few trading sessions. IF is is at .10 or .11 I will take another plunge for 6000 shares to bring my total to 20,000 for an avg of .5825 ...IMO this stock will reach 1.00+ over next 9-12 months. BK seems slim to none at this point as indicated by recent stock swaps of 175 Million $$$ towards debt repayment. Good Luck to all LONGS.Quote:
Originally Posted by SiriusHope
These are just grueling thoughts from my mind (thinking out loud, so just take it for that...thanks):
There should be a bear bounce coming sometime in the near future...just don't know when yet.
It will be an upsurge, but relatively short in duration. Just look for the gains heading to going over the 9 day and 50 day MA on the DOW.
After the bounce, it is time to get the hell out and fast, unless the uptrend continues in a slow and orderly fashion with much greater volume than before.
What shorters are hoping for is the bounce so they can get set up to start shorting immediately afterward, to kill the suckers still buying or holding.
All the recent trading has been on low volume and the shorts are not as easy to come by (I know this will draw flak!, maybe especially from Apex, lol, but hear me out if you are the least bit interested).
The market is getting oversold now as demonstrated today. What I am saying is not a guarantee, but it is something to be completely concerned about. After this bounce, we will travel down more. So be cautious if this happens in the near future, as you can get sucked in thinking things are rosy toesy again. Watch the 9 and 50 day MA on the exchanges.
Remember, two days ago, the market was overbought. When you take two days and it goes from overbought to oversold, that shows that the volume is very low. This is what makes some stocks like SIRI, CY, LVLT, ABK and more, a pissing war.
The bounce could be very short lived and I would say a day or two. I think taking the 9 day MA as resistance and the 50 day MA as an uptrend would be the safest way to go. Watch it past the 9 day and be paranoid up to and through the 50, because it may not last. Once it gets through 50, if fast, then sell! If it is good growth and slow through the 50, then you can re-assess.
Slow growth through the 9 and through the 50 is best. You just have to calculate the speed to tell if it will be bullish or bearish for what period of time.
Shorters, not all of them, but lots of them, are starting to get their heuvos squeezed! Ya! lol
Just my thoughts, any comments or questions are welcomed, so are criticisms, but give some backup for criticisms so we can all learn. Questions are free. We can have fun with this.
Putting my Ouija board away for the night.
8130 - 8150 has been like a springboard, if enough investors get in we could get a bounce.
1490 has been the support level for the NAS, if it all fails tomorrow, then 1450 could be our new support level with 1490 as resistance.
Have a great trading day! I hope we have our shorts left when it is over with.
Night
Maybe if we all pray hard enough, God will give Mel a check for a billion to pay off the '09 debt. To be honest, I'd rather have that check...
http://radio.about.com/od/opinionpieces/a/aa011509a.htm
Writing to the Radio God
By Corey Deitz
"Anyway, since you’re omniscient and all, I was wondering about a few things. First of all, that satellite radio merger. WTF? I mean I was supposed to be happier when it was done and I’m not. You probably know I lost some favorite channels and inherited a few others I sorely hate. Seriously: who in the hell is “Cousin Brucie” and why does he keep playing “The Theme from a Summer Place”? Please give their CEO a check for $1 Billion dollars so he can pay off the SIRIUS XM debt and restore some normalcy there."
Ouch...
http://www.google.com/hostednews/can...31K9ZrpPtmKL_Q
XM Canada nearly doubles first quarter net loss to $31.5 million on currency impact
TORONTO — Canadian Satellite Radio Holdings Inc., parent company of XM Canada, TSX:XSR), says it nearly doubled its net loss in the fiscal 2009 first quarter on a big currency loss, but sharply increased revenues.
The company said late Wednesday its net loss ballooned to $31.5 million or 66 cents a share for the three months ended Nov. 30. That compared with a loss of $16.2 million or 34 cents a share for the same period the previous year.
However, revenue in the quarter rose 53 per cent to $12.5 million from $8.1 million.
The Toronto company, which holds its annual meeting Thursday, said its loss reflected a $17.3 million foreign exchange loss in the quarter. That reversed a $4.4 million currency gain for the same period the previous year.
Revenue growth reflected an expanded subscriber base and a six per cent year over year increase in average monthly subscription revenue per subscriber to $11.94, the company said.
"Despite prevailing economic headwinds, our performance continued to improve in the first quarter of 2009, reflecting the successful execution of our business strategy," Michael Moskowitz, president and CEO, said after stock markets closed Wednesday.
"Over the past year, we have made prudent strategic decisions to reduce costs and to drive revenue through high return initiatives aimed at growing automotive, optimizing the aftermarket and engendering loyalty. We believe our solid foundation, focused strategy and ability to generate positive cash will help us continue to deliver results and mitigate the impact of a challenging economic climate."
http://www.247wallst.com/2009/01/sirius-xm-trade.html
January 14, 2009
SIRIUS XM Trades Equity For Debt, A Penny at a Time (SIRI)
SIRUS XM Radio Inc. (NASDAQ: SIRI) issued a statement after the close showing how the company is taking tiny steps to trim its debt balances. Every penny of debt it can shed helps its overall negotiating position with creditors as it seeks to refinance. Unfortunately, this comes with only more dilution to common shareholders.
The company plans to issue an aggregate of 100,000,000 shares of common stock in exchange for $13,000,000 principal amount of its 2.50% convertible notes due 2009 beneficially owned by institutional holders. After the exchanges, SIRIUS XM said it will have $174,588,000 aggregate principal amount of the notes that will still remain outstanding.
The company will not receive any cash proceeds. The notes exchanged will be retired and canceled.
The company stated that it executed these transactions to cut debt and interest costs, increase equity, and improve the balance sheet. Mel Karmazin and friends are willing to do more of these deals. The filing stated, "We may engage in additional exchanges in respect of our outstanding indebtedness if and as favorable opportunities arise." In other words, if you are a noteholder you can probably reach a deal with the company. If you want to.
Jon C. Ogg
January 14, 2009